Hunter Realty Associates, Inc. Brokers Three Hotel Transactions in One Week

Mid-market Transactions Under $15M Still Actively Trading

ATLANTA, GA, Dec. 2, 2008—Hunter Realty, a leading national hotel investment services firm, today announced they successfully closed three separate transactions valued at more than $28 million, all in the past week.

The three properties include a Courtyard by Marriott in Bristol, Va., a Comfort Inn & Suites in Birmingham, Ala. and a Best Western in Atlanta, Ga. Hunter Realty was both the listing and selling agent in all three transactions.

“It is well known that the hotel industry is facing both tough economic times and difficult financial markets,” said Lee Hunter, (top right photo) chief operating officer of Hunter Realty.

“However, despite the flood of negative economic news, transactions are and will continue to close, especially in the under $15 million-sized deals.”

Multiple financing arrangements were used to consummate the three transactions, reflecting the current economic climate. One was a SBA loan, one was a conventional loan in which the owner had a strong relationship with the lender and the third was cash above an assumed CMBS loan.

“Financing is certainly more difficult and requires greater equity than a year ago, but the economics of these transactions were compelling for both the buyers and sellers,” said Teague Hunter, (middle left photo) president.

“Strong banking relationships, a proven track record and creative approaches will certainly pay off in this environment.

“There are several factors favoring buyers in the current environment,” he added. “First, capitalization rates are moving upward. Also, with significant new cash being poured into the economy by the government, inflation is likely to affect values in the future. And, with the likelihood of higher tax rates ahead, the tax advantages of owning real estate will again become meaningful.”

The five-story Courtyard by Marriott in Bristol, Va., (top left photo) built in 2003, was purchased by Apple Nine SPE Bristol, Inc., and the two-story Best Western in Atlanta was purchased by Kennesaw Hospitality, LLC. The Comfort Inn & Suites, (middle right photo) located in the heart of Birmingham, was purchased by DR & MV Hospitality, LLC.

“Despite a decelerating economy throughout the year, Hunter expects to finish strong, in both number of properties and dollar volume,” said Bob Hunter, (bottom right photo) CEO. “We believe many more properties will come to market in 2009. Our recent move to new larger offices underscores our confidence in the hotel real estate market, and we look forward to a very active year in 2009.”

Hunter Hotels, founded in 1978, has offices in Atlanta and Washington, D.C. Hunter’s exclusive focus is in hotel brokerage.

For more information or to view current listings, please visit http://www.hunterhotels.net/ or contact us at 770-916-0300 in Atlanta, or 703-246-0035 in Washington, D.C.

CONTACT:
Melanie Boyer, Account Executive, Daly Gray Public Relations. (703) 435 6293,
melanie@dalygray.com,